I have both JBDev Studio and Eclipse setups for testing. In my JBDevstudio, i see lot of connection profiles options like Oracle, SQL Server etc. In my eclipse installation, i don't see these. See attached figures.

Can you refer me to the steps to include connection profiles for Oracle, SQL Server etc. in Eclipse?

Connection profiles are a concept that owned by the Eclipse Data Tools project. You can add those features to any Eclipse install via the main Eclipse update site:

I you check out: http://download.eclipse.org/releases/luna you can expand the Database Development category and check the 2 Data Tools Platform xxxxx features to install. These will add the additional plugins.